EUR/USD is building a bearish ABC pattern after hitting the main target at 1.20. The GBP/USD is also building a bearish correction but a bullish bounce could emerge soon.
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The EUR/USD could be ready for both a bullish and bearish head and shoulders pattern. A bullish inverted H&S pattern could take place on the 1 hour chart whereas a bearish one might occur on the daily chart.
The GBP/USD remains in a strong uptrend and a mild pullback could in fact be a wave 4 pattern of a larger uptrend.
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